(N et Tons) B IT U M IN O U S
1923 1924
Aug. 2... 10,564,000 7,484,000 Aug. 9 ( a ) . . . . ... 9,851,000 7,789,000 Aug. 16 (6) ... 10,843,000 7,831,000 D aily average... 1,807,000 1,305,000 Cal. yr. to date (c).. . 343,229,000 277,504,000 D aily av. to date... 1,776,000 1,431,000
A N T H R A C IT E
Aug. 2... 2,018,000 1,720,000 Aug. 9 ... 1,735,000 1,664,000 Aug. 16... 1,858,000 1,386,000 Cal. yr. to date (c).. . 64,417,000 57,239,000
C O K E
Aug. 9 (a )... 326,000 89,000 Aug. 16 (6) ... 334,000 94,000 Cal. yr. to date (c).. . 12,473,000 6,763,000 (a) Revised sińce last report, (b) Subject to re- vision. (c) M inus one day’s production to equalize number of days in the two years.
Bitum inous Coal D um pedat Lake E rieP orfs. by Weeks
308 C O A L A G E Vol. 26, No. 9
Hopes Being Realized in Midwest
The Chicago coal market is beginning to reflect signs of returning industrial activity and prosperity. The country trade in Iowa, Illinois, Minnesota and the two Dakotas is showing signs of renewed activity and it is expected that their inąuiries and orders will increase daily from now on.
Smokeless coals in the prepared sizes showed a very slight decrease this week, but eastem Kentucky błock coal shows very materiał signs of strengthening. The market on steam coals is in fair shape. The demand has increased a little but the supply remains just about the same as it was about a week ago. There has been a little strengthening in prices on high-grade screenings in Southern Illinois. Operators who have coal loaded on track and can fumish car numbers to the big industrials in Chicago are having no difficulty whatever in disposing of their coal.
A u tum n Buying Movement in Kentucky Sentiment in Louisville is better, indicating better work
ing time at the mines, freer movement of coal and that many mines that have been operating only half time or less are now running fairly close to fuli time. There has been a notable improvement in demand for prepared sizes,
while prices are stiffening somewhat on prepared, especially błock sizes, and screenings are holding their own in eastern Kentucky and increasing a little in western Kentucky, there being good demand in the latter field and better mining
Pool I (Navy Standard).. Baltimore___
Pool 9 (Super. Low Vol.).. New Y ork....
Pool 9 (Super. Low Vol.).. Philadelphia..
Pool 9 (Super. Low Vol.).. Baltimore___
Pool 10 (H.Gr. Low Vol.). New-York..,.
Pool 10 (II.G r. Low Vol.). Philadelphia..
Pool 10 (H.Gr.Low Vol.).. Baltimore___
Pool 11 (Low Vol.)... New Y o rk....
Pool 11 (Low Vol.)... Philadelphia..
Pool 11 (Low Vol.)... Baltimore___
Hifih-VolatIle. Eastern
Pooi 3^-64 (Gas and St.)... New Y o rk....
Pool 54-64 (Gas and St.)... Philadelphia..
Pool 54-64 (Gas and St.)... Baltimore___
Pittsburgh sc'd gas... Pittsburgh...
Pittsburgh gas mine r u n .. Pittsburgh...
Pittsburgh mine run (St.). Pittsburgh...
Pitts No. 8 screenings... . Cleveland___
Aug. 27 Aug. 11 Aug. 18 Aug. 25 Market Aug. 27 Aug 11 Aug. 18
1923 1924 1924 1924t Midwest Quoted 1923 1924 1924
$5.85 $3.60 $3.60 $3.50@$3.75 Franklin, 111. lu m p ... . Chicago. . . $4.20 $2.85 $2.85
Big Seam mine ru n ... Birmingham..
Big Seam (washed)... Birmingham..
Kansas screenings... Kansas C ity.
* Gross tons, f.o.b. vessel, H am pton t Advances over previous week shown
3.50
August 28, 1924 C O A L A G E 309
«1 750
700 lo4
fc
ii 650
IS
tu 600
it
ttts 550
sal
Pv 500
■tu
450
«: 400 u
350
= 300
£50 6f
(i £00
150
100
50
— . c\j cu oj . J
m o ) c n o ) m o i 2 <I30,(3)o) lś^Half
C o a l A g e In d e x o f S p o t P ric e s o f B itu m in o u s C o a l F .O .I i. M ine s
-1924- 1923
Index ...
W eighted average p ric e ...
A u g . 25 A u g . 18 A u g . 11 A u g . 27
. 165 165 163 202
$2.00 $2.00 $1.98 $2.44
T his d ia g r a m sho w s th e re la tiv e , n o t th e a c tu a l, prices on four- teen coals, re p re se n tativ e o f n e a r ly 90 per c e n t o f th e b itu m in o u s o u tp u t o f th e U n ite d State s, w e ig h te d firs t w ith respect to the p ro p o rtio n s each o f s la ck , p re p a re d a n d run-of-m ine n o r m a lly s hipped, a n d second, w ith respect to th e to n n a g e o f e ach n o r m a lly p ro duced . T he av e rag e th u s o b ta in e d w a s c o m p are d w ith the av e rag e fo r th e tw e lve m o n th s ended J u n e , 1924, as 100, a fte r the m a n n e r ad o p te d in th e re p o r t o n “ P rice s o f C o a l a n d Coke, 1913- 1918,” p u b lish e d b y th e G e o lo g ic a l S u rv e y a n d the W a r In d u s tr ie s B o ard .
last week, of which nine were hard coal, and thirteen are en route, of which three are hard coal. The railroads are giving good dispatch from the docks and unless ordering falls off considerably the docks will not get choked to any marked degree this year. The second cargo of Ford coal has arrived, being 13,000 tons on the steamer Ford 2nd.
Announcement has been made that Ford will bring up 200,000 tons this year.
The reąuirements of the Northern States Power Co. have just been filled, and 200,000 tons of screenings came to the docks here. This was divided among the Pittsburgh Coal Co., the Peter Reiss Coal Co., the Inland Coal Co. and the Berwind Fuel Co. The price was not disclosed.
There has been some pickup in the Twin Cities of late, but it is a good month late, so that deliveries are far below normal for this time. Prices on dock coal remain at recent levels. Southern Illinois coal is on a $3 basis as before, with little moving to the Northwest as yet. Hard coal is moying to the interior and to some extent to the Twin Cities, but not as much aś normal at this date. Yet the crop movement is under way and that should give a return cargo of coal for the cars which bring wheat and other grains to the terminals.
The Milwaukee market is very ąuiet. A change in the price of anthracite is promised for Sept. 1, when undoubt- edly there will be a greater demand than for some time past. Receipts by lake are slow. Thus far this season 445,323 tons of anthracite and 1,139,655 tons of soft coal have been received. Last season up to the same time 552,680 tons of anthracite and 1,735,700 tons of soft coal had beer received.
Western Markets Looking Up
A slight improvement in noticeable in the Southwestern market over last week, the operators believing the fali de
mand actually has started at last. Increased inąuiries more than a month ago were thought to presage the open- ing of the fali market, but there was a setback in the latter part of July and the first half of August, from which the district only now is beginning to recover. Prices hołd at recent levels.
The Colorado market continues to drag along, but it is thought that with the heavy movement of crops the rail
roads will be demanding more coal and a heavy demand for domestic coal is anticipated, as stocks are reported to be low at nearly all points. Colorado mines worked on an average of nineteen hours last week, 50 per cent of the working time lost being due to no market. Prices remain unchanged.
Utah operators have announced a 50c. increase on sizes above 3-in. nut, this size having been reduced 25c. The new schedule will be as follows: Big lump, $4.50; 3-in.
lump, $4.25; 3x8-in. lump, $4; 3-in. nut, $3.25. Run of mine, screen slack and straight slack remain at $3.50, $2 and $1.50 respectively. Lump coal is moving best now, but there is a demand for all sizes. The domestic storage business is better than a year ago, due, it is thought, to the rising market more than anything else. Industrial buying is light.
O hio Trade Gains in M om entum
Business at Cincinnati shows a gain in momentum with some slight advances in the ąuotations of southeastem Kentucky firms, and from Elkhorn mines in particular.
The smokeless market is not enjoying as good a position as the bituminous, the cause seemingly being the fact that the steady run of business through the summer has kept the yards stocked on the domestic and the lake buyers are still chary about rushing in for any more tonnage.
River business remains at the same volume as for weeks past. The attempt to work through Kanawha coals has been a bit disheartening to those who reopened on an open- shop basis.
With domestic trade showing slightly more activity, there has been a slight improvement in demand in Colum
bus. Pocahontas and other smokeless varieties are selling fairly well and there is also a good demand for splints and Kentucky grades. There is little doing in steam coal and the trade is marking time, so to speak. Reserves are still fairly large in some localities and buying is mostly for immediate needs. While there is not nearly as much demurrage coal on the market as formerly, still cheap cargoes can be picked up and bargain hunters are busy.
Utilities and railroads are good consumers. Schools are taking in a good tonnage while there is also considerable activity in coal for municipal departments, hospitals and public institutions. Production is showing slight signs of improvement. The lake trade is not as active as formerly owing to the fact that the wants of the upper lake region are close to being filled.
Trade in eastem Ohio seems to be moving along with a casual but slightly inereasing steadiness. Inąuiries show more life, especially in the retail trade, and this demand is, no doubt, emanating from apartment houses, schools and the domestic consumer. Steam stocks are now a negligible ąuantity, and steam buyers are taking advantage of every opportunity to purchase smali lots at advantageous prices, thereby augmenting whatever smali stock they may have and at the same time providing for current reąuirements.
Coal M oving Better at Pittsburgh
Pittsburgh district coal has been moving a little better of late. Quotations on Pittsburgh steam and gas coals have not been favorably affected by the heavier cali for coal. The movement of domestic coal is still in the incipient stage, there being nothing like a regular tonnage. Buying demand for slack has increased noticeably. The additional ąuantity is furnished by strip mines producing somewhat more and by there being more from deep mines, partly through increased shipments of domestic lump. Pittsburgh steam mine-run continues ąuotable at $1.75@$2 as the fuli rangę of the market, and there has been no distinct change sińce the decline to this level late in March.
With little or no change in prices, inąuiries are becoming
310 C O A L A G E Vol. 26, No. 9
more plentiful in central Pennsylvania, and although to date not much coal is being sold or contracted for, indications point to heavier buying after Sept. 1.
Demand at Buffalo is about as before, but the feeling is somewhat better. Prices are at the bottom and have not changed to any visible extent for quite a long while: $2.25
@$2.50 for Youghiogheny gas lump, $2@$2.25 for Pitts- burgh and No. 8 steam lump, $1.75@$2 for all mine run,
$1.10@$1.25 for slack.
New England Sees Further Price D rop
In New England pool 1 New River and Pocahontas de- clined 15c. to $5.25 per gross ton on cars, Boston, brought about entirely by competition, for prices for spot tonnage at the Southern loading pierś have been slightly firmer.
Some business has been done in smali lots at $5.40. Con- sumers’ stocks are larger than has been generally believed.
In the aggregate quite a fair tonnage has been booked at the low figurę, but it is not as large as was anticipated.
The price seems to be sustained at Providence as no really pool 1 mine-run coal is known to be offering under
$5.40 on cars, with some business noted at $5.45 within the past few days. And orders are no more plentiful than at Boston.
The situation at the southem loading ports is just a .bit firmer. There is little strictly pool 1 mine-run coal offer
ing under $4.10 gross ton, f.o.b. Hampton Roads, now and 5c. and lOc. more is being paid. Some tonnage of pool 1 coal has been shipped to New England in the past fort- night for which the f.o.b. price was under $4, but this is no longer possible. Tonnage appears to remain rather heavy, but there is less slack standing and this injects a firmer tone to prices.
The all-rail situation offers nothing new. Regular con- sumers of Pennsylvania coal are taking it right along, but there is practically no spot buying. Prices manifest no change from the past week or so.
Encouraging Signs in Atlantic Markets
An encouraging sign in the New York situation is the number of inąuiries by large consumers. Confidence is slowly increasing and with generał business showing signs of greater activity it is expected that actual buying will soon set in. Reserve stocks are slowly fading. Accumula- tions at tidewater rangę between 1,100 and 1,500 cars daily, more than sufficient to meet current reąuirements and in some instances too large to prevent some buyers from picking up bargains when shippers find it necessary to sell coal to avoid demurrage charges.
Buying at Philadelphia is increasing but spotty, the orders being smali. Big buyers are still holding off, but expect to be in the market soon, as generał business is pick
ing up. Prices remain on about the same level.
Despite the persistent dullness a note of optimism per- vades the Baltimore market. Inąuiries are not brisk and spot purchasing is at an extremely low ebb, but the trade is encouraged by reports from various industries that con
ditions are slowly but surely improving. Another luli has come to the export movement, only one ship having cleared during the past week.
Some improvement is being shown at Birmingham, but progress is slow. Orders are somewhat more plentiful for steam fuel in the open market and consumers are taking to contract making in greater numbers. However, there is no great amount of room for optimism as far as actual business booked is concemed, but the undertone is
unmis-5 19 3 17 31 14 28 12 26 9 23 6 20 4 18 I 1unmis-5 29 13 27 10 24 7 '21 6 20 12 26 10 24 7 21 5 19 2 16 30 13 27 11 25 8 22 6 20 3 17 31 14 28 13 27
Apr Mny June July Auq 5ept Oct Nov. Dec Jan Feb. Mar
takably healthier and more hopeful and steadily increasing activity is expected from now on. Production for the week of Aug. 9 was 326,000 net tons, showing a fair increase over the previous week, but there has been no improvement in working time at the mines. The iron market is very duli and foundry coke is in a rather quiet position with ąuota- tions $5@$5.25 per ton ovens for 72-hour product.
Independenta Heavily B ooked fo r H ard Coal Activity in the New York hard-coal market is largely confined to independent coals, which for the most part are quoted below company schedule. The exception is stove coal, which is quoted by some of the smaller operators at slightly above company schedule, especially when taken straight.
Many independents are heavily booked for futurę delivery and some are refusing ąuotations for immediate delivery.
Stove coal continues to lead in demand, some retail dealers complaining of inability to obtain sufficient to meet the demand. However, most buyers are willing to take a share of their order in either egg or chestnut if assured of the other size. Pea coal moves slowly and operators find it difficult to keep their tonnages moving. There are no favor- able signs in the steam-coal situation. Buckwheat No. 1 continues the weakest, while barley appears to be the best seller.
Signs of improvement continue in the Philadelphia an- thracite trade, mostly in the retail trade, where the dealers report an increase of smali orders. The larger companies still maintain a four-day schedule, but they all hope to make fuli time during September. Stove coal continues to be the size the dealer wants if he asks for anything at all.
Nut and pea are plentiful with all shippers. Steam coals have not improved, although there are faint signs that better movement is likely to be in order soon.
A number of Baltimore anthracite dealers report better ordering. Practically all have liberał stocks on 1- nd and they are delivering as quickly as orders are placeu. Coal men are urging consumers to take fuel now, pointing out that prices will undoubtedly advance about 25c. Sept. 1.
Buffalo consumers are buying a little better now.
Canadian buyers, however, are far behind their usual outlay.
Not M uch Activity in Coke M arket
There has been little actual market activity in the past week in the Connellsville coke market, but generał condi
tions show a slight improvement in the outlook. The oper
ators are all firm at $3.25 for furnace coke except for a few that hołd out for still more. Foundry coke has been still duller in the past ten days, but the market is unchanged, at
$4.00 to $4.50. The Courier reports coke production in the Connellsville and Lower Connellsville region in the week ended Aug. 16 at 16,300 tons by the furnace ovens, an in
crease of 100 tons, and 33,320 tons by the merchant ovens, an increase of 3,200 tons, making a total of 49,620 tons, an increase of 3,300 tons.
i
C a r L o a d in g s , S u r p l u s a g e s a n d S h o r t a g e s
'— Cars L o a d e d — * A l l Cars C o a l C a rs Week ended Aug. 9, 1924... 942,198 149,482 rreviousweek... 945 731 144 Week ended Aug. 1 1, 1923... 973,162 177*259 .-- Surplus Cars— . .-- Car Shortaee— • A ll Cars Coal Cars
Aug. 7, 1924... 296,496 138,325
Previous week... 322,530 146,840 ...
A u g .8, 1923... 74,168 6,546 ' 10, i 49 “ 4 897
" T T - B1TUMIN0U5 COAL DUMPŁD ---L --- --- AT ____________ . - - ___ ^ M n h a m p t o n r o a d s , ,
| | ( p n BY WEEKS H ---3 17 1 15 29 12 26 10 24 7 21 4 18 2 16 ---30 1---3 27 tl 25 8 22 5 H
10 » 8 22 5 19 3 17 31 14 28 II 25 9 23 6 20 4 18 1 15 29 ^ Apr Moy June July Auq, Sept. Oct. Nw. Dec. Jan. Feb.
August 28, 1924 C O A L A G E 311